Pre-Market report on 27.08.2008

[suguhopes]

Listless markets look for direction, Sensex to trade in a narrow
band
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Stocks are expected to trade in a narrow band as the markets look for
direction. Expect the index to trade in a narrow band of 50 to 100
points in today's trade.It will be interesting to see how the markets
react to the possibility of DRReddy staying in charge of the central
bank.

Wall Street ended mixed Tuesday as concerns about the path of
Hurricane Gustav sent oil prices higher and offset a better-than-
expected reading on consumer confidence. The Dow Jones Industrials
rose 26.62, or 0.23 percent, to 11,412.87 and the Nasdaq composite
fell 3.62, or 0.15 percent, to 2,361.97. Stocks in Asia opened flat
with a negative bias in early trade. Nikkei is trading nearly
unchanged as a gain in Oil stocks gained to offset losses in Realty
stocks.

Sweet crude ended the day up $1.16 to settle at $116.27 on the New
York Mercantile Exchange.On the currency rupee rebounded from a 17-
month low, paring losses, on speculation the central bank bought the
currency to prevent declines from adding to inflation. Rupee ended 0.1
percent lower at 43.845 against the dollar.

Expect some more action in the stock of FirstSource Solutions as
rumors are ripe in the market about a possible stale, there is a
possibility that the company might deny the news cooling off the up
move. Punjab Chemicals, Jupiter Biosciences and Micro technologies are
the stocks that might see some heated activity ahead of their board
meetings.

For traders interested in speculative stocks, Vintage Cards seems like
it has no stopping and no one knows the reason behind the move.The
stock has appreciated more than 105 percent in the past week. Maxwell
Industries and IFCI also look good for some quick gains intraday.

Suitable stocks for 'Intraday' today
<RELIANCE,ICICIBANK,RELCAPITAL,JPASSOCIAT,BHEL,KOTAKBANK,PUNJLLOYD,
COREPROTEC,BANKBARODA>

Market Closae Box
BSE Sensex 14485.00 34.65
NSE Nifty 4337.50 2.15
USD Rs.44.07
Oil Nymex $116.2

N.Sukumar
Research Analyst